FY2023 EPS Estimates for Equity Residential Raised by Zacks Research (NYSE:EQR)

Equity Residential (NYSE:EQR – Get Rating) – Investment analysts at Zacks Research increased their FY2023 earnings per share (EPS) estimates for shares of Equity Residential in a note issued to investors on Tuesday, May 9th. Zacks Research analyst M. Chattopadhyay now expects that the real estate investment trust will earn $3.71 per share for the year, up from their prior forecast of $3.70. The consensus estimate for Equity Residential’s current full-year earnings is $3.74 per share. Zacks Research also issued estimates for Equity Residential’s Q1 2024 earnings at $0.89 EPS, Q2 2024 earnings at $0.94 EPS, Q3 2024 earnings at $0.95 EPS, Q1 2025 earnings at $0.98 EPS, FY2025 earnings at $4.10 EPS and FY2025 earnings at $4.10 EPS.

Other analysts have also issued research reports about the company. Piper Sandler increased their target price on Equity Residential from $59.00 to $63.00 in a report on Monday, May 1st. Truist Financial increased their target price on shares of Equity Residential from $68.00 to $70.00 and gave the company a “buy” rating in a research note on Friday, March 10th. Citigroup raised their price target on shares of Equity Residential from $68.00 to $70.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 15th. Wells Fargo & Company began coverage on shares of Equity Residential in a report on Wednesday, March 29th. They set an “equal weight” rating and a $62.00 price objective for the company. Finally, Mizuho raised their price target on shares of Equity Residential from $67.00 to $72.00 and gave the company a “buy” rating in a report on Thursday, February 23rd. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $71.50.

Equity Residential Price Performance

Shares of NYSE:EQR opened at $62.91 on Thursday. Equity Residential has a one year low of $54.60 and a one year high of $80.89. The stock has a fifty day moving average of $60.27 and a 200-day moving average of $61.61. The company has a market capitalization of $23.84 billion, a PE ratio of 25.89, a price-to-earnings-growth ratio of 3.44 and a beta of 0.81. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.69 and a current ratio of 0.69.

Institutional Trading of Equity Residential

A number of large investors have recently made changes to their positions in EQR. Securian Asset Management Inc. lifted its stake in Equity Residential by 0.6% during the first quarter. Securian Asset Management Inc. now owns 28,128 shares of the real estate investment trust’s stock worth $1,688,000 after purchasing an additional 167 shares during the last quarter. IFP Advisors Inc raised its position in Equity Residential by 32.2% in the third quarter. IFP Advisors Inc now owns 776 shares of the real estate investment trust’s stock worth $47,000 after acquiring an additional 189 shares in the last quarter. Commerce Bank raised its position in Equity Residential by 1.4% in the third quarter. Commerce Bank now owns 13,589 shares of the real estate investment trust’s stock worth $913,000 after acquiring an additional 194 shares in the last quarter. EverSource Wealth Advisors LLC raised its position in Equity Residential by 28.3% in the first quarter. EverSource Wealth Advisors LLC now owns 879 shares of the real estate investment trust’s stock worth $53,000 after acquiring an additional 194 shares in the last quarter. Finally, Laurel Wealth Advisors Inc. grew its holdings in Equity Residential by 3.5% in the third quarter. Laurel Wealth Advisors Inc. now owns 5,961 shares of the real estate investment trust’s stock valued at $400,000 after purchasing an additional 200 shares during the last quarter. 82.62% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Mark S. Shapiro sold 42,435 shares of the business’s stock in a transaction on Thursday, May 4th. The shares were sold at an average price of $61.91, for a total value of $2,627,150.85. Following the sale, the director now owns 12,497 shares in the company, valued at $773,689.27. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 2.30% of the company’s stock.

Equity Residential Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 14th. Stockholders of record on Monday, March 27th were given a dividend of $0.6625 per share. The ex-dividend date of this dividend was Friday, March 24th. This represents a $2.65 annualized dividend and a dividend yield of 4.21%. This is a boost from Equity Residential’s previous quarterly dividend of $0.63. Equity Residential’s dividend payout ratio (DPR) is presently 109.05%.

Equity Residential Company Profile

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Equity Residential operates as a real estate investment trust. It engages in the acquisition, development, and management of rental apartment properties, which includes the generation of rental and other related income through the leasing of apartment units to residents. The company was founded by Robert H.